Harrods is believed to be cutting up to 700 jobs as the fallout from the coronavirus crisis continues to devastate the retail sector. That number would mean up to 14% of its workforce being made redundant.
Sustainability is having an ever larger impact on luxury and this week Gucci launches its first collection under its Gucci Circular Lines initiative. It debuts on Farfetch where it will be exclusive for two weeks.
Each news story about TM Lewin seems to deliver worse news and the latest development is that the menswear retailer is closing all of its shops and becoming online-only. It means the loss of over 600 jobs.
New LovetheSales.com analysis of e-shopper demand shows a hunger for luxury investment pieces as well as high street fashion for the looming day when consumers will be able to restart their social lives.
Belstaff has reopened its Glasgow store this week as Scottish non-essential shops have been allowed to open their doors again for the first time in months and it's using the moment to launch a by-appointment offer.
As the new owners of TM Lewin continue to seek new deals for its retail stores, a report has suggested the company could consider a pre-pack administration in order to allow it to close as many of the shops as possible.
Diesel has unveiled an all-digital way for the industry to buy without having to travel to showrooms, boosting sustainability and reflecting the post-Covid new world for fashion. All OTB brands will move to the platform.
Salvatore Ferragamo will release on July 28 only its half-year sales data, postponing the remaining financial data for the semester and a conference call with analysts to Sept. 15, the luxury group said on Thursday.
European resale specialist Rebelle said this week that sustainability is the main reason for many consumers buying secondhand and that the Covid-19 crisis has boosted demand for luxury investment pieces.